NEW YORK (MarketWatch) -- Shares of Extreme Networks Inc.
EXTR, +1.04%
surged 15% to a 2 1/2-month high after the company reported preliminary fiscal fourth-quarter profit and sales that were above previous forecasts. The networking equipment maker said it expects adjusted earnings for the quarter ending June 30, excluding non-recurring items, of 6 cents to 8 cents a share, above previous projections of 2 cents to 4 cents a share. Adjusted revenue is expected to be $154 million to $156 million, compared with its prior estimate of $145 million to $150 million. The company said it announced these anticipated results because the release of final results will be delayed as it completes its year-end results and audit processes since completing the Enterasys Networks acquisition in November 2013. Despite Monday's rally, the shares were still down 28% this year.

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